HVAC Services Market Professional Overview 2018-2023 with Major Vendors Size, Shares and Demand with Daikin Industries, Ingersoll Rand, Notek, Carrier Corporation, Honeywell, Johnson Controls International, LG Electronics, Fujitsu General, Panasonic

Industry Highlights:
The HVAC Services Market is expected to register a CAGR of about 6.54% during 2018-2023 (the forecast period). The scope of this report includes equipment type and its implementation, including software & services. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The study also offers insights into the various end-user-based applications, such as residential, commercial, etc.

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The HVAC services market is witnessing a growth, due to an increase in the number of construction activities in the mature markets, innovative products, and technician maintenance and installation in developing markets. The latest trend gaining momentum in the market is the advent of advanced monitoring systems and intelligent technologies. These systems are used to determine the overall energy consumption and to gauge when adjustments are necessary to improve adjustments. They are a good indicator of when a potential problem may arise. With the improvement in knowledge of advanced monitoring systems, the HVAC services market is expected to grow.

Key Developments in the Market
September 2017 - Carrier Corporation launched a suite of digital solutions that improved the engagement and remote management of commercial HVAC systems. In addition, customers got an access to an online community portal that help them manage the service and maintenance activity on their HVAC assets.
July 2017 - Carrier Corporation introduced two innovative cooling solutions, ideal for Middle East at events in Dubai and Abu Dhabi. These solutions operate in high ambient conditions - up to 54 degree Celsius, with a high efficiency ratio (HER) of 14.

Major Players :
Daikin Industries, Ltd, Ingersoll Rand PLC, Notek, Inc., Carrier Corporation, Honeywell International Inc., Johnson Controls International PLC, LG Electronics Inc., Fujitsu General, Panasonic Corporation, Siemens AG, Mitsubishi Electric Corporation, amongst others.

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Increase in Construction Activities likely to Drive the Demand
New construction activities in residential, commercial, and industrial sectors are growing the demand for HVAC services, which can improve building efficiencies and generate revenue for this market. The US residential and non-residential construction activities have steadily expanded over the years. This is likely to boost the installation of new equipment in construction, which, in turn, may fuel the HVAC services market growth during the forecast period. New innovations in building design and focus on energy efficiency for building have opened up opportunities for HVAC service providers. This, in turn, is likely to propel the demand for services to maintain them.

Asia-Pacific is the Dominating Market for HVAC Services
The Asia-Pacific market is witnessing an increase in public-private investments and multiple real estate projects in various industrial, residential, and commercial development zones, due to a boom in urbanization. Construction activities in residential and commercial infrastructure are expected to grow because of the increasing housing needs of growing urban population. Climate is another factor which is driving the market growth, as the population in Asia-Pacific seeks energy-efficient air conditions to offset hot and extreme weather conditions.
China holds the largest market share in Asia-Pacific, as it covers a wide range of climate zones. Moreover, government acts, regulations, and associations are supporting the use of HVAC services in Asia-Pacific.

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This release was published on openPR.